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2013-12-19

India\'s exports to US, Europe rise despite economic slowdown

The government data shows that despite global economic slowdown, India\'s exports to the US and Europe have grown in the first seven months of the current fiscal year.

The government data shows that despite global economic slowdown, India's exports to the US and Europe have grown in the first seven months of the current fiscal year.

"In the first seven months of current fiscal year, 2013-14 exports to Europe and the US have increased in comparison to the corresponding period last year," said EM Sudarsana Natchiappan, Minister of State for Commerce and Industry, in the Rajya Sabha.

According to Natchiappan, who was quoting the figures given out by the directorate general of commercial intelligence and statistics (DGCI&S), India's exports to Europe grew by 5.99 percent in the period between April-October 2013 and stood at $33.15 billion from $31.28 billion shipped-out during the corresponding period of 2012-13.

"Exports to the US have not declined in the previous three years. However, exports to Europe had shown slight decline. But exports to European countries in 2013-14 have shown improvement", he said.

For the US, India's exports grew by 8.64 percent at $23.35 billion in the period under review from $21.49 billion shipped-out during the corresponding period of last fiscal year.

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